Issued: 06/12/2015
June euro:
1. Monday’s January 8 June euro report indicated that any further test of and daily close below $112.40 (and worst-case, $112.70) in the June euro would place the market into a ‘Sell’ position for a tradable decline to at/near $111.60/$55 (or lower) into mid week (week of June 8).
2. Subsequently, both Tues. and Wed. closed above the $112.70 level, negating new short entry. However, yesterday, Thurs., June 11 the euro closed back below $112.70 (daily close, $112.57) which set the originally forecast decline into motion. Today (Fri., June 12) completed the $1160/$55 downside target (today’s session low, $111.51, so far).
3. While no official short entry occurred, today’s decline is an important downside completion and sets several potential tradable indications into motion for next week.
David Williams
Issued: 06/08/2015
June euro:
1. Any further test of and daily close below $112.40 (a worst-case, $112.70) in the June euro will place the market into a ‘Sell’ position for a tradable multi-day decline and test/attempt at $111.60/$55 (or lower) into mid week (week of June 8).
2. Will update as the June euro continues to confirm.
David Williams
Issued: 06/09/2015
June euro:
1. Yesterday’s (Mon., January 8) June euro report indicated that any further test of and daily close below $112.40 (and worst-case, $112.70) in the June euro would place the market into a ‘Sell’ position for a tradable multi-day decline and test/attempt at $111.60/$55 (or lower) into mid week (week of June 8).
2. Yesterday’s session advanced powerfully and closed the day above $112.70, negating (if only temporarily) the above indication. A daily close today (Tues., June 9) back below $112.70 (and best case, $112.40) may prompt new short entry in the June euro for the original noted decline. Will update as the market confirms.
David Williams